Colombian Non-Mining and Energy Exports Increased by 10.3% in the First Two Months of 2024

With recent data showing $1.756 billion USD in foreign exports of non-mining and energy goods in February, Colombia has now recorded a 10.3% jump in non-mining exports over the first two months of 2024 compared to the results seen in January and February of 2023, according to the National Administrative Department of Statistics (DANE).

February, which had a year-over-year growth of 9.8%, saw growth in volume as well as value. Colombia shipped a total of 758,133 tonnes across the world in the month — a 23.2% increase compared to February 2023.

The positive news, which was compiled in an analysis from the Ministry of Commerce, Industry, and Tourism (MinCIT), is largely driven by exports to six key trading partners. The United States tops the list, with nearly a third all all non-mining and energy exports, including year-over-year growth of 5%. Next up come Ecuador, Mexico, Peru, Brazil, and Venezuela.

Luis Felipe Quintero Suárez, Colombia’s deputy Minister of Foreign Trade, noted the back-to-back monthly figures as a significant development. “We are working toward the re-industrialization and diversification of the supply of goods from our territory,” he said in a statement.

Among the top-growing exports so far in 2024 are: large vehicles, bananas, Hass avocados, polyvinyl chloride, sugar, chocolates, candy, and medicine.

As for the products most outstanding for their growth and boost to non-mining energy exports, they are: vehicles for more than 10 people, whose exports grew 526.2% in the two-month period; bananas, with an increase of 160%; hass avocados with 84.1%; polyvinyl chloride, whose foreign sales increased by 42.9%; sugar, which had a variation of 15.3%; chocolates, candies and candies with 15.3% and medicines with 10.5%, among others.

(Photo credit: Colombian Ministry of Commerce, Industry, and Tourism)